Skip to main content

tv   The O Reilly Factor  FOX News  August 8, 2011 5:00pm-6:00pm PDT

5:00 pm
track 48 years ago today. and now you know the news for this mopped, august the 8th, to 11 i'm smerd smith. see you tomorrow. >> bill: "the o'reilly factor" is on. tonight.eed to do athe moment is invest more. >> get people bigger unemployment benefits. >> >> bill: the far left refusing to admitted it has screwed up the american economy almost beyond belief. we will have a "special report" with karl rove. >> i believe this is, without question, the tea party downgrade. >> the fact of the matter is, that this is essentially a tea party downgrade. >> the democratic party trying to blame america's economic problems on the tea party. will that wash? juan and mary katharine will weigh in. >> this the first president in the history of the country who under his watch we have seen a
5:01 pm
downgrade of united states' credit. >> bill: congresswoman michele bachmann will be here to tell us how she would get america out of the economic chaos. >> the music is about to end. this game is going to be over. >> caution. you are about to enter the no spin zone, the factor begins right now. captions by closed captioning services >> bill: hi, i'm bill o'reilly. thanks for watching us tonight. saving the folks from economic hardship. that is the subject of this evening's talking points memo. by now most americans understand there is a crisis of leadership in washington. the s&p downgrade on friday basically says there is no confidence in the federal government's management of the economy. the president and both parties are to blame. but it is we the people as usual who are going to suffer the most. the dow down today another 634 points. unbelievable. the chaos in the financial
5:02 pm
markets will set back the american economy a good six months, at least, consumers will spend less as they watch their individual portfolios, mention and education funds rapidly diminish. economic perform is everywhere. unless there is a dramatic, a dramatic turn of events, barack obama's presidential career is in peril, all the polls show that. it's becoming hard to see how mr. obama could ever win re-election with the economic circumstances so dire. i mean, it's like a football coach. you get a certain amount of time to turn a bad team around. and then you are fired if you don't. blaming president bush for the current chaos not going to work any longer. but the democratic party simply will not stop doing that and will not admit that the big spending agenda has driven the country to the brink of brussments instead, they continue the blame game. >> i believe this is, without question, the tea party downgrade. this is the tea party downgrade because a minority of people in
5:03 pm
the house of representatives countered even the will of many republicans in the united states senate who were prepared to do a bigger deal. the fact of the matter is that this is essentially a tea party downgrade. the tea party brought us to the brink of a default. and, by the way, you said before, the president said this -- if we had defaulted on our debt, the consequences would have been dramatic and lasting. >> bill: i think the cons sequences have been pretty dramatic. the tea party downgrade? the tea party downgrade? come on. half the tea party congress people voted to compromise on the debt deal. the party basically wants a smaller government. certainly a legitimate point of view. only far left zealots are going to buy that the tea party is the cause of the present economic chaos. because as mentioned those zealots will never admit their economic policies are a disaster. >> what we need to do at the moment is invest more. get people bigger unemployment benefits so they have money to
5:04 pm
spend and that creates demand. >> bill: yeah, that's right, ms. tucker, let's spend even more money we don't have. yeah. that's the ticket. paging john lovettes. not putting forth a vision. allowed muck things um as the world started to taking notice of the dysfunction. a case could be made that the president fell back on his old senatorial habits voting president instead of taking a stand. that will haunt him going forward president is president s also failing to understand massive policies are not working. instead, he wants to continue the madness. >> we ought to give more opportunities to all those construction workers who lost their jobs when the housing boom went bust. we could put them to work right now by giving loans to companies that want to repair our roads and bridges and airports, helping to rebuild america. >> bill: giving loans? giving loans? the problem is we don't have any money to give loans.
5:05 pm
the world is not going to stand by anymore watching america slouch towards insolvent is i. now they are punishing us. foreign investors bailing out president bush cuts individual tax rates what happened from 2004 until 2008. tax revenue increased from about 800 billion to almost 1.2 trillion. that blows away the liberal argument that tax cuts starve the government of revenue. they don't. when the economy prospers because of consumer spending, tax revenues rise. right now, the entire world is watching how the united states is handling the severe economic crisis. we are not italy, greece, or spain. we are the world's economic driver. if we go down, the world goes down. americans themselves are largely furious because we have no control over our own economic
5:06 pm
future. we are dependent on the government and washington and it is failing us. and the 2008 election, barack obama carried 52% of the independent vote. right now, according to a new gallup poll, just 37% of independents approve of mr. obama's job performance. that's a loss of 15 percentage points. if that holds, there is no way on earth the president can be reelected. about 10 million more americans voted for mr. obama than for john mccain. today's rasmussen poll among likely voters shows 52% of americans disapproving of the president's job performance. even "new york times" liberal columnist maureen dowd took a shot saying barack obama's slogan used to be yes we can, now it's hey, we might. but it's now looking like hey, we might is too optimistic as a worldwide marketplace has made its judgment. the u.s.a. is in dire economic trouble and perception is reality. talking points didn't think the
5:07 pm
u.s. credit would be downgraded. only standard and poor's downgraded and they should not have. it really doesn't matter. every fair minded person knows the country is in a mess financially. at times like these, the president must take charge, must address the problem directly. we need to immediately return to the spend rate of 2008 just three years ago. that would save as much as $920 billion right now. we do need more revenue which can be achieved by a flat tax, plugging loopholes like allowing american corporations to stash trillions of dollars overseas. and we need to institute a small, a small national sales tax to cover medicare and to tap into the $1 trillion a year in the underground economy. why should people making money off the books get a free ride? also, we need medicare and other programs to be somewhat revised. somewhat? we need medical tort reform so sleazy lawyers can't fabricate
5:08 pm
lawsuits, jacking up medical costs for everybody. we need to repeal obama care, which is far too exeivel for business. and instead allow free market competition among health insurance companies to bring costs down. these are all solutions to the economic mess we find ourselves in. but, mr. obama not embraced any of them. instead, he wants to pay people to rebuild america. that's his way out. not even close. and that's the memo. we'll spend the entire program this evening analyzing this very intense situation. coming next, karl rove and juan and mary katharine and then wayne rodgers then bernie goldberg and then michele bachmann. right bark. also get a free flight.
5:09 pm
you know that comes with a private island. really? no. it comes with a hat. you see, airline credit cards promise flights for 25,00miles, but... [ man ] there's never any seats for ,000 miles. frustrating, isn't it? but that won't happen with the capital one venture card. you can book any airline anytime. hey, i just said that. after all, isn't traveling hard enough? ow. [ male announcer ] to get the flights you want, sign up for a venture card at what's in your wallet? uh, it's okay. i've played a pilot before.
5:10 pm
[ male announcer ] this is what it's like getting an amazing discount on a hotel with travelocity's top secret hotels. the easy way to get unpublished discounts of up to 55% off top hotels. harpist not included.
5:11 pm
♪ is non-stop to seattle? just carry new preparation h totables. discreet, little tubes packed with big relief. from the brand doctors recommend most by name. new preparation h totables. the anywhere preparation h. >> worldwide markets tell the united states of america our economic policies aren't working. joining us from washington fox news analyst karl rove. is this the worst day of the obama presidency, today? >> so far, yeah. i think it would be right up there in the top two or three. and, look, you are right. we have spent two and a half years trying to an experiment. can we spend our way to prosperity? i would remind you that the public debt of the united states was 40% of g.d.p. when obama came into office. by the end of last year, 62%. by the end of this year, 72%. and even with, if we get all of the cuts, and the deal that was agreed to on the debt ceiling vote, in 10 years the public
5:12 pm
debt of the united states will be 76% of g.d.p. we didn't -- we slowed its growth but we haven't sent it downward. the reason is because, look, discretionary spending is 37% of the budget. interest is 5.4%. and 57.7% is mandatory spending. things like medicare and medicaid. this is what obama said is off the table for discussion. we have got to focus on the 37% of the budget that is discretionary and most of that, two thirds of that is defense spending. so, until the president gets serious about tackling entitlements, the world is not going to have confidence in america's getting its fiscal house in order. >> bill: look, this is now coming to critical mass. we can't sustain damage like we sustained today economically much longer. we just can't. the president came out today he gave a little speech. 10 minutes after he gave the
5:13 pm
speech, the market dropped another 200 points. >> why not? why not? the speech gave nothing. the speech was we're. >> bill: the speech is we are the american people and we can rally. i don't have any dissolution solutions. let's just walk through it i say go back to spending in 2008, the last year of the president bush presidency, okay? that saves between 600 and $900 billion right from the top. so you just take whatever you were spending in 2008 three years ago, okay? and that's where you go back to. if the president would have come out today and said that you know what? this is what we are going to do. we are going to accomplish over the next year. bring everybody down to where we were in 2008. the market would have been up 600 points, am i wrong? >> well, the idea of returning spending levels to 2008 is a good one, but, remember, that only really works for discretionary spending. the problem is when you have got two thirds of the budget on auto pilot, you can't say we're going to reduce medicare spending to where it was in 2008 or social security or all the other stuff
5:14 pm
that obama is rapidly pushing into the mandatory part of the budget. you can't do that because legislative battle to make that happen. so, you know, but you are right. >> stop spending, stop spending. that's the first thing. >> bill: it's more than that just telling the world that i'm the president of the united states, barack obama, i understand how bad this is i'm this is what i'm going to shoot for. i'm going to get down to the discretionary spending to 2008 levels. and then the mandatory spending we're going to go in and we're going to design some reforms. and the reforms are not -- maybe not popular and maybe you will vote me out of office in 16 months, but i'm going to design them and we're going to confront them in congress for the next year. you are telling me that the world wouldn't respond positively to that? of course they would have. >> sure they would have. what's interesting to me is austan goolsbee the head of the economic advisors said when it came to mandatory spending we all know there are things we should do, why don't we do them? great. why doesn't your president walk
5:15 pm
out and say let us do the things about which there is broad bipartisan agreement. even if it is baby steps. take a step at a time. and the world will watch us do it. in instead of doing what the president has done, which is spend the last 8 or 9 months lying behind the lick log and lamb bassing his republicans in congress for suggesting things that would help put the country in a better financial position. >> lying behind the lake log? >> lick log. >> bill: oh, okay. now, look, i don't understand why a guy like president obama doesn't understand the peril is he in for re-election know, look, he has advisors just like you advised bush, he has got guys in there daily is his main guy. >> no, no. daily is not his main guy. that's the problem. if daily were his main guy he wouldn't be doing these things. his maple main guy is david playoff who ran his 2008 campaign. complete focused on how do i --
5:16 pm
look, remember the mind set. he is not going to be able to win re-election because the economy is going good be, jobs are plentiful. unemployment rate is sitting there. playoff is sitting there saying how do we attack the republicans and make whoever they nominate completely unacceptable to the american people so obama wins re-election because obama says i don't like what he is doing. i'm really disappointed in him but god that other person stinks. that's how they are going to run this campaign. that's exactly why they ran the last eight months the way they have. >> bill: why couldn't they put forth. >> they are not that good. they could only do one thing at a time. and the one thing at a time that they are doing right now is playing politics, not being president. the most important thing a president has is the image of being a strong leader. this -- a strong leader offers up ideas. a strong leader provides vision. a strong leader says let's put together and i'm going to put the politics aside for a movement strong leader takes chances by doing the right thing. we have seen none of that from this president. is he not turning into jimmy carter. is he turning into james buchanan. a man who knew exactly what the
5:17 pm
big challenges were facing the country. proved incapable of doing anything about them or unwilling to do anything about them which i think this president is unwilling to do them. >> he was the president before abram lincoln knew the union was desolving and southern states might succeed and basically went to lunch every day with his niece who ran the white house for him as mr. -- >> impressive. very impressive, mr. o'reilly. >> bill: what do you think 15 years on the air here, 13 as number one. you are looking at -- what do you think? >> this is a man who makes a practice of self-educating outside of his professional responsibility. >> bill: read my book coming up is a good chance to plug it "killing lincoln" going to shock you in september. going to shock even you mr. rove. thanks for the analysis. we appreciate it next on the run down juan and mary katharine will weigh in on whether president obama is done. finished, out of here. bernie goldberg angry about some of the media coverage of the
5:18 pm
crisis. michele bachmann will be joining us from iowa back in a moment. [ man ] they said i couldn't win a fight.
5:19 pm
but i did. they said i couldn't fight above my weight class. but i did. they said i couldn't get elected to congress. but i did. ♪ smetimes when we touch ha ha! millions of hits! [ male announc ] flick, stack, and move between active apps seamlessly. only on the new hp touchpad with webos.
5:20 pm
5:21 pm
>> bill: impact segment tonight. as we told you in the talking points memo if the presidential election were held today barack obama would likely lose in major way. joining us from washington mary katharineham and juan williams. i think today was the worst day of the obama presidency by far. not even close. secondly, unless the president goes to lords, and has a miracle of curing the economy, i don't see in 16 months how he makes a come back the damage today is going to extend outward. what say you? >> it was a bad day for the president. more than that, it was a bad day for america. i think this is just a terrible day. i have got to say that if you are pointing to president obama, i would point to leadership failure overall. leadership failure on wall
5:22 pm
street, leadership failure by your own christian standard and poor's was wrong to lower the rating. >> bill: all of that doesn't matter though. it's like being the coach, okay, of a football team that wins 0 games. yeah, it's players and players may get cut it's the coach who takes it because is he in charge. the whole world is looking at barack obama, the whole world, juan, is he not up to it? >> that's not true. >> bill: oh, come on. >> you know how you tell this, bill? you look at what the opposition is offering in terms of their leadership? >> bill: doesn't matter. we don't know who the opposition is going to be. >> you have to vote for one guy or the other. >> bill: don't know who the guy or gal is going to be. you are going to tell me -- wait a minute, juan. you are going to sit there and tell me the world has not repaleudis yalted president obama on the economy? you are going to sit there and say that? >> no. what the world is refuteiating is dysfunction national american leadership.
5:23 pm
the american people last week said in polls 72% that what was going on in congress was ridiculous, bill, ridiculous. they were outraged by it and blame not the democrats. it was the republicans and it was the tea party in specific that has been going down the polls because the americans see them as using the debt ceiling as a political. >> bill: nobody is looking at their portfolio cursing out the tea party. >> believe me they are, bill. >> bill: mary katharine, go. >> the hurt comes from real hurt in people's lives and uncertainty they are seeing. the guy in charge gets the credit good or bad. is he going continue to during that he gave himself three years to turn this thing around as he told matt lauer three years ago. pretty astute observation. people are looking at him saying he be a bow advocated on the debt discussion. bag of tricks is empty. did a giant stimulus, giant
5:24 pm
entitlement program, here we are with a spending program and he comes out and sort of got nothing left except for patent legislation and give recommendations to the congressional committee which is nice. >> bill: construction guys to rebuild america that's his big deal. >> carried kicking and screaming into this debt debate in the beginning. he did not want to have a part of it he wanted a clean debt ceiling vote or add 9 trillion so the tea party is leading on this. >> bill: let's advance the story. juan, i put forth six things that would immediately help economy in my talking points memo. president obama has not embraced any of them. am i a dunder head or is he? >> no. i thought you were smart. because you said we need more revenue. now, you had some ideas, flat taxes, each a sales tax which i think is pretty radical. if you think so. >> bill: one trillion dollars floating around. nobody pays any taxes on it have you got to tap into that. >> you know what? that also is a very regressive tax on -- that benefits people who make a lot of money. not people who are hard working middle income folks. >> bill: who buys the most stuff
5:25 pm
and expensive stuff who? >> rich. >> bill: it's not regressive, progressive. >> people who are working class have to buy the bread and butter. >> bill: charge it on food. you can raise revenue while dropping income tax rates, thereby stimulating the economy and still having money to pay your bills. and that's what he should do but he doesn't do it. >> this is the idea -- by the way, this is the idea that actually has some traction in washington. republicans and democrats, which is that we need to lower the tax rates for the corporations and person -- on a personal basis. in order to do that, we need to close loopholes, close deductions. i have got to tell you something, how come you don't scream about g.e. pay nothing taxes? >> bill: i screamed at least three shows on that. you have got to watch the show, juan. >> big corporations are just outrageous. they have big profits. bill they are not investing at home.
5:26 pm
call those guys to the table. >> bill: i hope news corps doesn't fire you, juan. >> obama is the guy who doesn't pay any taxes he is sort of tacitly endorsing that. i think what people did not want is obama picking and choosing the guys he doesn't happen to like that don't include jeffrey immelt who he hired and raising their taxes. fair reform, you can get higher revenue for it without injuring the economy. that's an idea. obama could come up with one. >> bill: republicans are never going to vote for income tax rise because of the economic situation. do i believe they would plug loopholes like trillions of dollars being stashed overseas. maybe i'm wrong. mary katharine and juan, thank you. what should do you with your money? assuming you have any. wayne rodgers a very astute investor will be here. bernie goldberg furious about some of the media coverage of the debacle. we hope you stay tuned to those reports. [ male announcer imagine all of your missed opportunities
5:27 pm
in one place. ♪ the front-row tickets you never bought. the lucrative investment you never made. the exotic vacation you never took. but there's one opportunity that's too good to miss. the lexus golden opportunity sales event, with exceptional values on the lexus rx. but only until september 6th. see your lexus dealer.
5:28 pm
5:29 pm
5:30 pm
>> bill: personal story segment tonight as mentioned the dow lost more than 630 points today. nasdaq lost for thatly 175 points. millions of americans are losing big money in retirement educational accounts not to mention personal portfolios. joining us from wayne rogers investor who puts his money where his mouth is did you lose today, mr. rogers. >> oh yeah, i lost a little. everybody lost a little. the nation lost a little. >> are you worried about it. >> i'm not as worried as everybody else is and i think the economy is in much better shape than the market is telling us. i think this is a buying opportunity. the market is down. common stocks. i think this is six months from now you will see the market much higher than it is right now. >> bill: now, i have about 20%, 25% of my portfolio in stocks. and i don't believe in the buy and hold anymore because yeah the market goes up and you are right six months from now, the street thinks there is going to be a change in the oval office and in the senate, stocks might
5:31 pm
go um. but then there is going to be another disaster five years from now. it goes up, up, boom. conservative americans want to secure their money. they want what they call preserve capital. it's the way way to do that now? i don't think you can look five years out in anything in the world we are living in today. five years is too long for anything. look out six months. look out a year. you can't tell what the congress is doing going do in that time. you can't tell what the international situation is going to be. at any moment it could blow up and have a problem on our hands. it's going to be a continuing thing. >> bill: stocks in a dangerous world and unstable world. you don't go heavily into stocks. you get more cautious, do you? am i wrong? >> no. i don't. i think that there are times to take advantage of these things. when you have got people things like ford motor company sell at five or six times earnings. major corporations who are solid, who are generating income. whose profits are good. listen, i own a little business
5:32 pm
in new york that makes wedding dresses have you heard about it klein feld. we had a record weekend last weekend. we're doing great. this is one of our best years. i sit on the board of another company international company. we have 35 factories in 18 countries worldwide. we have our necks best season next to last year which was our best. this year it's going to be even better. i don't see the economy, the solid economy doing that badly. i think it's doing well. what this particular crash is about is about fear. people are frightened. people have no confidence in the government. they have no confidence in the country doing what it should be doing. and you were right in your opening remarks what's what's wrong. we need to attack that. >> bill: did you vote for barack obama? >> no, i did not. do you believe that the people who did, most of those people, north the ideological people, not the staunch liberal
5:33 pm
democrats do you think they have changed their opinion on the president? >> i think they are beginning to change. i think there is something even more fundamental than that we are talking about the economy here. the vote for obama was not a vote for obama. it was a vote against bush. that's what elected obama. the president doesn't make law. that's done by the congress. the president doesn't set a budget, that's supposedly done by the congress, although we have been operating for almost three years without a budget because the senate can't pass one as a cons sequence, it's not whether the president has it, it's what we do in congress that's going to make a difference. >> leadership factor here as ronald reagan demonstrated. the stronger you are as a leader, the more you can can a july congress con joel congress to do the right thing. >> the word pojule that mist
5:34 pm
phis me. what is this guy going to do and what can he influence? he certainly can't make the law and he can't make the budget. yes, he can get on television and speak. and he does that quite often. and apparently it's not working. there is something more fundamental going on here. and that is maybe containsian economics doesn't work. >> bill: it doesn't work. obviously. not in this country and no other countries. >> why are people like freidman and those kind of people not brought back the chicago school instead of listening to, you know the canessian people. >> crazy people don't care about the facts they care about how they feel. i appreciate your optimistic viewpoint because i think we needed to hear a little bit about that on the economy tonight. thank you for coming on in here. >> thank you, bill. >> bill: bernie goldberg on how the media is handling the economic. bernie is worked up. bernie is next.
5:35 pm
e announcer ] this is our beach. ♪ this is our pool. ♪ our fireworks. ♪ and our slip and slide. you have your idea of summer fun, and we have ours. now during the summer event get an exceptionally engineered mercedes-benz for an exceptional price. but hurry, this offer ends august 31st.
5:36 pm
for an exceptional price. at exxon and mobil, we engineer smart gasoline that works at the molecular level to help your engine run more smoothly by helping remove deposits and cleaning up intake valves. so when you fill up at an exxon or mobil station, you can rest assured we help your engine run more smoothly while leaving behind cleaner emissions. it's how we make gasoline work harder for you. exxon and mobil.
5:37 pm
5:38 pm
i'm bill o'reilly in the weekdays with bernie segment tonight, it is embarrassing for many in the liberal media to see the man who heavily supported barack obama having such a hard time in the white house. the latest economic chaos is being framed a number of ways. very few of them honorable nest. joining us now from north carolina, the purveyor of bernard mr. goldberg i'm bill o'reilly in the weekdays with bernie segment tonight, it is embarrassing for many in the liberal media to see the man who heavily supported palm klugman and the "new york times" said there was too much balance in hard news stories about the economy and about politics. and cugman wants hard news
5:39 pm
journalists to come out and flat out say it's the tea party people who brought the country to the brink of disaster. i'm going it read one sentence. these are his exact words. the problem with american politics right now is republican extremism. if you are not willing to say that you are helping make the problem worse. then a few days later, john kerry, the senator from massachusetts said pretty much the same thing am told you have a tape of that. do you want to run that or not. >> bill: we will roll it kerry basically at the top of the program we played a sound bite where he blamed the downgrade on the tea party. then he went further, roll it? >> the media has got to begin to not give equal time or equal balance to an absolutely absurd notion just because somebody asserts it. or simply because somebody says something which everybody knows is not factual. >> bill: all right. so what is he talking about there? >> well, is he talking about
5:40 pm
things that conservative republicans have said during the debate. but here's the thing. in theory, i agree with krugman and kerry to a point. you don't put on crazy points of view. if i go out and interview somebody who says the earth is round, i'm under no obligation to find some lunatic that says it's flat. when you are talking about complex economic issues, that's different. when you are talking about serious people on both sides, that's different. krugman and kerry, if they ran the newsroom, they would keep out conservatives who would say that the problem is we are spending too much. if i ran the newsroom under their crazy dictatorial ideas i would keep out liberals who said why have to borrow more money from china so we can spend more money and while we are at it raise taxes on the rich. bill, this isn't about making journalism more responsible. this is about two liberal authoritarians who think they have a pipeline to the truth who
5:41 pm
think they know better than anybody else what's right and what's wrong. you know what? they pretty much want only their side to have a voice in the ncial conversation. >> they have always done that they attacked me viciously for years because they don't like my opinions. tried to destroy me, guys like glenn. this is their game. >> now they want hard news. >> bill: not to report. >> only giving the responsible side. and they will decide who is responsible. >> now, the latest poll show that there is a rise in negativity toward the tea party so the demonizing of it has worked to some extent. 40% of the american people now see the tea party in a dim light. so that's why you had kerry and axelrod say, you know, this disaster today in the stock market not president obama, who has been in office for almost three years and has all the
5:42 pm
power, it's the tea party out in oklahoma that show one a sign. they're the ones that did it i am going is anybody believing that? >> let me say as i have before that i'm not cheerleading for the tea party in any big group you will have a certain number of wackos and the tea party is certainly no exception to that. if it weren't for the tea party we wouldn't have this urgent conversation about the mountain of debt that we have build up. they get credit for that from whom. >> somebody named peter wrote to my web site over the weekend blaming the tea party for the downgrade is like blaming the guy who calls 911 to report a fire. i think that's a pretty good analogy. >> bill: peter is a good guy. see, i don't understand how i
5:43 pm
guess what i'm trying to say is i don't know how many american voters there are that simply don't know anything. >> that's a very important point. >> bill: that is. that's who they are appealing to. >> exactly. >> bill: appealing to people who don't know anything and will be persuaded that it's the tea party's fault the stock market went down 635 people and maybe it's not the tea party, maybe the jersey shore people did it and they go oh, yeah, maybe that's it. so i guess that's who they are appealing to. >> serious, this is a crucial, a crucial point you made. there are many, many people who, let's be generous and say aren't sophisticated about politics and the economy. if i weren't so generous i would say they just don't have a clue as to what the hell is going on in this country. but those people have a right to vote, just like you do. >> bill: that's who they are going for, absolutely. >> that's who they are going for. and, it may work.
5:44 pm
it may work. >> bill: you know those bugs no seeums. >> my name is people who know absolutely nothing. no thinkems. >> there have a lot of them. poll how many states in the united states. obama said 57. i said never mind. >> bill: bernie goldberg, everybody. congresswoman michele bachmann joins from us iowa. what should woo she do about the economy if she were president? we will ask a her very specific questions directly ahead. gas and bloating. with the strains of good bacteria to help balance your colon. you had me at "probiotic." [ female announcer ] phillips' colon health.
5:45 pm
5:46 pm
5:47 pm
>> bill: back of the book segment tonight, go out to where michele bachmann is campaigning to be president. congresswoman, get very specific
5:48 pm
tonight in the face of all of this disaster. if you were president, what would be the first thing you would do economically? the first thing? >> well, the number one thing that needs to be done is i think the treasury secretary has to go. you have to have some fire. you mentioned that in your talking points memo. if your economic team isn't working, you have got to get someone in who know what is to do. that needs to be done. secondly, if i were president today, i would call all the members of congress back into washington, d.c. and i would say. this look, we are going to get this a.a.a. credit rating back this is what we are going to do. tell the markets there will be no default on the debt. we will make sure all the interest payments are made. tell our military in no uncertain terms they will get their checks, number three, we would make sure that all senior citizens would know they aren't going to be scared anymore. their current benefits both on medicare and social security will be paid. however, from there, with all the members of congress, i would
5:49 pm
let them know the time for entitlement reform is now, not in the future. we have to have entitlement reform now because. >> what's your idea about medicare? you know, costs are exploding, what's your idea to get the costs under control so the nation can afford to pay the bills of people who have paid into medicare for their whole working lives? it's not really an entitlement medicare. the people always say that and they're right. you know, we pay into this system. but then the government does what it usually does, takes money here and there and then they don't have enough money to cover and all of that. how do you get the medicare costs under control? what do you do? >> right. well, it needs to be tied more to the market, right? because it isn't now. right now it's on a fee for service program and president obama himself has said this program isn't working and that has to change. there have been good suggestions that have come out there. >> give me one. >> people who do not have sufficient income, could have their health insurance
5:50 pm
subsidized. and so for those people who do have sufficient income, then they would purchase their own health insurance. so it would be means tested as to who needs to have that subsidy or not. >> affluent people who declare a certain amount of income every year, if they're over a certain level, they are not going to get as much medicare help. people will be teed off about that okay. it's a legitimate. would you raise the age for medicare? would you raise the age for social security? >> again, number one, everyone has to be crystal clear no one who is a current recipient of benefits would be impacted. subsequent people. that has to be crystal clear. >> bill: let's say under 40 you raise the rate the age? 67, 68. >> look at that both on the social security side and on the medicare side and on medicaid. more important in all of, this bill, is repealing obama care. >> bill: i got that you are dodging the question about raising the age.
5:51 pm
>> no. hear me on this. because a couple of months ago i was in the white house with president obama. we asked him three times what's your plan to make medicare solve vent. he mumbled around. >> he doesn't have a plan. >> listen. >> had a plan and put it out there. >> let me tell you what the president said. >> bill: all right. >> he said obama care. so what senior citizens don't realize is that president obama's plan for medicare is they will all go into obama care. there won't be a medicare going forward under president obama. >> bill: i don't even think this is worth discussing because i think the supreme court is going to throw it out. >> it's the law of the land now, bill. i hope they do throw it out but it's. >> bill: doesn't kick in until 2013. >> as president of the united states, bill, i will not rest until we repeal obama care. i'm not leaving it to the supreme court. i would exercise leadership that we actually repeal obama care. >> bill: congresswoman, you know every republican is going to want to repeal obama care: if
5:52 pm
the senate and the house. >> there is a big difference, bill. between someone who is going to sign the bill that lands on their desk versus someone that will go out and make the case for it i will go all over the country. plus, as nominee of the republican party i will not stop until i elect an additional 13 members of the senate who will agree with me so we can have a filibuster proof senate who actually repeal this thing. >> bill: can i really be on noxious and raising the age of the medicare and social security? >> need my permission? >> that's an easy one. >> you need my permission? >> bill: i'm trying to be nice. are you going to raise the age for under 40s at 68 or or something like that? >> for social security? >> bill: and medicare? >> i think longevity is something that the president and many members of congress have said we need to look at. >> bill: look at it i'm going to say that's an i don't know yet. >> no. it's in the mix. it's in the mix.
5:53 pm
>> bill: is this the worst day -- >> -- this is a very bad no good day. 634 drop on the market for two months i have been leading do not raise the debt ceiling. the day of reckoning came last week. this is in addition to the ninth worst day in the stock market last week when we had over 500 point drop. so, senior citizens are looking at their portfolios right now and they have taken a huge hit. >> bill: i hope they are not looking. >> i'm not looking at mine. don't look. because, you know, a month from now things could be a lot different. >> bad news. >> bill: don't look. it's terrible. >> but make positive decisions. that's what we need to do. we need a new president. we have got to make positive decisions to turn the economy around. >> good luck in the campaign. thanks for helping us out tonight. we appreciate it. >> thank you. >> pinheads and patriots ashton kutcher giving economic advice. have you got to hear what this guy is saying. p and p moments away.
5:54 pm
you could save a bundle with geico's multi-policy discount. geico, saving people money on more than just car insurance. ♪ geico, saving people money on more than just car insurance.
5:55 pm
♪ ♪ when you're resonsible for this much of the team, you need a car you can cot on. ♪
5:56 pm
>> bill: pinheads and patriots starring ashton kutcher telling teenagers what to do with their money. >> folks from all over the country are coming to the first miller-o'reilly bolder fresh show saturday august 20th, on long island. i posted some of the best things long island has to offer. i hope you check that out. we will see you at the show. >> now the mail:
5:57 pm
>> bill: he said clearly some proceeds were being donated to 9/11 charities. >> bill: i agree. >> bill: i love australia, i'm going to get out there soon. >> bill: of course bs detector
5:58 pm
standing for barbra streisand. i always know when she is around. it just kind of hits me. >> bill: excellent. >> bill: meaning a poisonous atmosphere. stay safe, thanks for watching. >> bill: maybe kelly.
5:59 pm
>> bill: i know eric and it is goofy, so to speak. if old walt were alive that would not be happening. i think the country should barrage these disney pinheads. what is the problem! finally i. actor ashton kutcher won a teen choice award and said this: >> the whole united states of america needs to hear this. best advice i got when i was a teenager. don't ever charge anything on a credit card, if you don't already have the money in the bank to pay for it. >> bill: very good ashton. nicely said. you are a patriot. i gotta get a hat like that. that is it for us tonight. check out the fox news website. also spout off about the factor from anywhere in the world.


info Stream Only

Uploaded by TV Archive on